This blog is a result of the heavy censoring of the media by the military dictatorship regime.

Tuesday, February 1, 2011

Heads roll at FHL: Qoro terminated

The chair of the Fiji Holdings Ltd board Isoa Kaloumaira and its managing director, Sereana Qoro, have been given the flick although local media are saying they've resigned.

It was touted yesterday in the FijiSun that a major investigation was underway on a CEO and it centred on a huge payout to one of the managers.

The FijiVillage is now reporting it has confirmed an outgoing manager received a $155,000 payout and company car. It has not named the company or chief executive involved but Coupfourpointfive is naming them as FHL and Sereana Qoro, pictured here.

A short time ago, FijiVillage said it was discovered the CEO had authorized the payouts for the outgoing manager, even though he was not entitled to the benefits, after he'd left.

The double dipping was revealed when the same manager allowed the company's Chief Executive Officer to get two salary packages. The pair had obviously been scratching each other's backs.

FijiVillage says it was then established the CEO was also receiving the salary of a board chairman of one of the subsidiary companies.

It's believed the car and about $50,000 of the golden handshake have been returned.

FijiVillage says just the chair and the CEO have resigned but it's believed the entire board has been asked to go as well.

The FHL irregularity is the second to be revealed this week. In the other, Coupfourpointfive exposed the shenanigans of another duo, Suva lawyer Renee Lal and former politician Ben Padarath, allegedly involving hundreds of thousands of dollars fleeced from a Ghanian businessman.

34 comments:

Anonymous
said...

Looks like corruption has flourished under Bai's dictatorship! What else do you expect when you hand out positions to people who do not deserve them and are there for their own selfish agenda's. At this rate anything not nailed down will be stolen by these thieves then they'll come around again with pinch bars from China to take out the nails and steal the rest.

Ratu Said.qoro was appointed in fhl .when she was fired by m p chaudary from housing..col aziz was appointed by bani.so we have thieves controlling fhl.they all making money from fhl .contracts and loans given to friends.long as they get the commissions.if you stole and got rich in 1987 coup now fhl is loosing in 2011.god is watching all.

Good to see Frank acting on such descively and quickly. None of this SDL type aag peachay type nonsense. Good on ya IG. Keep it. Also move has confirmed all about Aziz. Dont know why still in army. Should be fired from Army too. How can a career solider be owning a 8 flat block on Gaji Road and Medical Centre in Rewa St. I heard he was taking cuts from loans given out by Merchant Finance....guess who is Merchant CEO....Uday Sen....thats right, Uday Sen.

She was appointed to the FHL board on 13 June 2008. Frank and friends committed treason on 4 December 2006. Count it. It is two years before she was appointed.

So really, this is the military regimes' mess - nothing to do with anyone else - so you can blame who you like, but in this reality, Frank appointed her. Then fired her. He has no idea and no plan. Just more bullshit and blaming others for their inherent incompetance and corruption.

The military regime criminals are now torturing their own wounded and behaving like a pack of dogs as they fight over corruption scraps. The name bainimarama, like hitler and other scum bag dictators, will go down in history for the terrible legacy it has left Fiji. But like all the cowardly dictator such as Ben Ali in Tunisia, cassava patch boy and his family, and the vermim who supported this human rights abusing regime in Fiji, will be hunted down and brought to justice.

There's alot of corruption at FHL. There's a guy at Basic Industries a subsidary of FHL, he is the chief accountant. He's fathers company has trucks contracted to Basic industries to transport contract.

This was happening well before the coup. More corrupt practises will come out.

The Aziz puppets at FIRCA are shivering,Jioji Vaka,Moala,Solanki,all on drips in the heat.Have a investigation on all who were reported by Aziz and ask how much they paid SANJEEP PAL AND AZIZ.Some of this poor guys have been put out of business ,had to sell houses ,cars to pay demand from Jioji Vaka at FIRCA.But credit to Aziz he made a smart move to resign from FHL and one Uday Sen and FHL accountant to be investigated by independant auditors as FIRCA has still got AZIZ connections . V B You have to make the first and fast move as lots of infos are being destroyed vinaka

Jake get your facts straight bro. She and Isoa Kaloumaira were put in place by the regime after the regime got rid of all the hard working Fijians and Board members who were in FHL because of their own competence. None of the bullshit like the failed purchase of BP would have occurred under the previous board.

It is such a pity that one of the hall marks of this regime is that they view any successful Fijian CEO as corrupt. Tsa Frank, see what you have done - you have sent some of the best Fijian brains in the country out and what you are left with are those who will tell you what you want to hear rather then what you need to hear!Perhaps it is time for you to rethink your strategy if you really love this country - go back to the barracks and bring these blokes back.

Jake get your facts straight bro. She and Isoa Kaloumaira were put in place by the regime after the regime got rid of all the hard working Fijians and Board members who were in FHL because of their own competence. None of the bullshit like the failed purchase of BP would have occurred under the previous board.

It is such a pity that one of the hall marks of this regime is that they view any successful Fijian CEO as corrupt. Tsa Frank, see what you have done - you have sent some of the best Fijian brains in the country out and what you are left with are those who will tell you what you want to hear rather then what you need to hear!Perhaps it is time for you to rethink your strategy if you really love this country - go back to the barracks and bring these blokes back.

I just wish , this kinda news would get out to the Yasana , Provinces, that invested in FHL so that the peasants in the villages can see how stupid of them to do the mata ni gasau.Bainimarama fcuking up the Yasanas and they don't even realise it. (Cakaudrove, take note. Your money has just gone down the drain.)And all you Fiji Army people you are totally pathetic. Don't even care about your fellow Fijians. Maumau ga nomuni lotu. Ni yavu ulukau. Levu ga na vosa. Yavu kana loto, ulukau, liu muri.Thank you C4.5 for revealing all this.When we get back to Democracy I would like to see Bainimarama and all the arseholes he appointed pay back every single cent.

Was Sereana Qoro a board member at FDB? Was she involved in destroying FDB evidence against the original FHL corruption that involved loan to the SDL/SVT cronies at the bank? and only board member that continued to serve in the board...because no one knew the innocent Qoro was going to be ...

In his "senility", Jake appears to have lost his "ding-dong". So much so that he fails to appreciate the fact that there are still crooked CEOs around who are having a field day milking the people of this country of the returns due on their investments - both in government and in the private sector. FHL may have all the cash and be the biggest single entity next to the government's favourite cash cow, the FNPF. That doesn't give anyone the licence to abuse the trust placed in their appointment by feathering their own personal nests.If Frank and Co are serious about weeding out corruption then investigations should begin immediately into the properties and assets these CEOs and Board members have. A freeze on the sale of such assets should be implemented through Court order so that if they're found to have been purchased through corrupt practices then they should be sold off to re-coup the stolen funds.Likewise, every CEO and board member of a public institution should sign an agreement that they will be liable to repay through the sale of their personal assets/properties, any funds abused during their term in office - especially if they're implicated. This is not a discouragement against serving on boards, it's simply accountability. If you abuse, you pay just as ordinary citizens who steal to feed their families pay the price through jail terms. The CEO of the FNPF should be the first to be made to sign such an agreement.Let's also establish how Aziz has managed to amass such a large number of properties in such a short time?

@Jake: With each new post your senility shows through more vividly than before. Might I suggest you consider better focusing your "twilight" years on trying to find your lost ding-dongs rather than telling others what to do with theirs?

How pathetic of Jake trying to blame the previous governments, give it up Jake we all know who appointed these people and when, as its a matter of public record. No amount of misdirection and lying on your part is going to distract from who is really responsible for this mess and thats cassava sprinter, Baini. And for those calling on the 'PM' to investigate etc, why don't you ask him to investigate his 180k leave backpay to the 1970's? These people are only following the example set by their thieving leader Bainimarama!

There was no corruption at FDB when those loans were given out. You are sounding like that monkey Ranjit Singh.

Alot of small people took loans from the FDB too. The issue with the FHL sale ofs shares was that not too many people were aware of what investing in shares were and so the educated ones were those that benefitted. There are only about 900 share holders in FHL so it has not really benefitted the Fijian people as a whole.

Now here is an idea for you Frank - if you really want to reform FHL and turn it into the institution that it was supposed to be:

-delist FHL from the market - buy back all the shares sold to initial individualinvestors at par as the initial offerring was not as widely publicised as possible. FHL should have sufficient reserves to do this or use FAB's B class shares as leverage to fund the purchase-carry out a marketing campaign (like the ATH one) to try and attract as much individual Fijian participation as possble, at the sametime teach them about the risks of investing in the share market-for shareholders who purchased shares from the market, repurchase their shares at market price- then get one of the accounting firms to value the shares of FHL in the current environmnet (Frank -please do not use Zarin Ali & Co or whatever name they go by these days)- talk to FNPF to enable Fijians to borrow from their savings to fund their equity portion- talk to all the Banks about your intentions and of your desire to spread the wealth to the ordinary Fijians, tell them that they might like to fund some of these share purchases ( it would help if you had a credible Governor of the RBF and I'm glad you have got rid of the monkey you had in there) Not all the share purchases were funded by FDB!- then open the sale of FHL shares

Of course alot of work still has to be done, you need to get professional advice -Please do not use your AG - that fool does not have any idea of the mess that he has created in our country

Contact me through this is blog and I will get you the names of reputable organizations who can tell you what you need to hear and even is this idea is feaseable. This will not be the first time something like or similar has been doneJo M

RATU SAID.WHY DONT FICAC CHARGE ISOA,QORO,AIYAZ MUSHA AND AZIZ TOO.THIS IS FAIR.IF YOU CHARGE FIONA NEMANI/OLOTA.MAC PATEL/MAU .WHERE IS JUSTICE FICAC AND PM.TELL US NOW.THEY ALL COMMITTED THE SAME CRIME.NO SELECTIVE AND KAI VATA .CHARGE ALL OF THEM IF NOT DROP OTHER PEOPLE CHARGED.

Remember George Orwell's Animal Farm?. When the pigs took over leadership of the animal Kingdom, there was the specific rule that " All Men are equal???. Well after all the initial niceties etc, they only later reneged to the situation where "some were becoming more equal than others!!!!..".I hope that answers your above question regarding the selective application of Justice on the above cases. They also do very clearly highlighted the very sad state of the administration of the Rule of Law in Fiji by the Vore's illegal Junta..

Maybe past Colonial and Fijian governments were corrupt in some form or another - but then again what government the world over is not corrupt in some form or another??At least in a democracy there are checks and balances that minimise such practices. Corruption like prostitution is a fact of life - from the Old Testament to the New Testament to this day. One can only mitigate and minimise it, but you cannot get rid of it!! Period!! I am always tickled when 'so and so town' has been declared 'crime free' - what arrogance, what hypocricy, what grand-standing, what a lot of charading, what a lot of "I want to be GOD" syndrome!In an illegal regime there are no checks and balances that mitigate and minimise it - it is free for all. I say free for all because they are NOT accountable to nobody - SO what do you get - CORRUPTION, CORRUPTION AND MORE CORRUPTION, GREED, GREED AND MORE GREED, SHAFTING, SHAFTING AND MORE SHAFTING!!!

"What regime isn’t corrupt Rabuka’s and Qarase’s regime was just as corrupt as the FHL, hand on a minute these two dickheads were at some stage in charge of this organisation."

Qarase was elected. Rabuka was also elected. They were not perfect governments - but they were the governments that the people chose. The military dictatorship we have now has abrogated the constitution and lives outside the law, making decisions that are ruining the nation on a day-to-day basis.

I think you should ask your doctor to up your dosage or get some new pills. Whatever you are taking now clearly isn't working.

Ratu Saidnow is the time to ck where the elite fijian got the loan to buy a grade shared in fhl.ans nbf and fdb.these people took 250k and 150 k each from nbf/fdb. bakani was -nbf/qarase-fdb.ficac and pm office should get the bank listing of big loan at nbf and fdb by these elite people.why didnt the province get A grade shares.why B-grade for provinces.All the elite fijian were using the grass root fijian for their personal empire/gain.qoro read bible every day and became a satan .

I mean get blinkn real man! Do you know what democracy is about or not? There is no real government in place unless chosen by the people!!! The guns do not choose for the people!!! And where there is an illegal system in place like the current one....every goes from bad to worse. A multiplication of corruption never seen before in Fiji's history takes place and is before our very eyes. What you talking about the Qarase etc etc government? We are talking about NOW!!! Take a good long hard look at corruption erupting within the current system.

Anyways, remember you are the bigger dickhead according to what your illegal summation is about.